- Data will be collected from a number of dead projects and scams, allowing visitors to spot red flags in their own investments
- The site will have a newsletter that will poke fun at the crazy events that take place all too frequently in crypto
- “Any asset that’s not Bitcoin has a good chance of getting on our graveyard eventually…” said Graveyard Co-Founder Roman Kemper in an exclusive interview with BitStarz News.
Shitcoin Graveyard is a tongue-in-cheek look at the “crazy scams, deadly hacks and simply naturally dying shitcoins” that pervade the crypto space. Rather than shying away from this side of crypto, the Shitcoin Graveyard project aims to embrace it and turn it into a force for good – as a tool to warn potential victims of the next hack, scam, or soon-to-be extinguished coin.
BitStarz News writer Mark Hunter caught up with co-founder Roman Kemper to discuss the project and see what lies in store when it goes live.
MH: What would you say is the overall ambition/philosophy behind Shitcoin Graveyard?
RK: We want to help people to avoid getting rekt, while entertaining them as well. The graveyard fills the data gap about failed projects, and later we will apply that knowledge to provide signals and applications concerning running or upcoming projects. As in “to predict the future, one has to understand the past”.
MH: So, you’re more than just a list of dead coins?
RK: Much more, but that’s what we are starting with as a foundation – a central database that will eventually consist of many billions of trades, sentiment analysis, aggregated scores, and a lot of other sources. If you look at for example deadcoins.com (which we like a lot), we add a plethora on data on top such as trading history, team info, quotes, trading history etc.
MH: Starting with the launch product, what data will your algorithm be scraping (presuming you don’t have a group of interns combing Reddit and Bitcoin Talk)?
RK: Haha, I wish we had a group of interns. We have several scrapers and APIs in the mix initially, and the next part will be all the trading data. And I mean all of it. Our launch product will have a news site as well, with dark articles about the “wtf” in crypto.
MH: Aside from trading data, what other data will determine if a project deserves a plot in the Shitcoin Graveyard?
RK: We look at project activity in social media channels, github, exchange data, and other sources and evaluate the status of the asset. We have three main factors to determine if the coin is alive, a zombie, or dead. These are a) if the team is still active b) official web presence(s) still active, and c) trading volume. We currently do a lot of research on top of our aggregated data to make sure a project is worth the funeral.
MH: This is a serious project then, not just a bit of ironic fun? In what format will you present the data, and who do you see having access?
RK: Oh yeah, we take it seriously but also enjoy the fun it brings. Initially the data will be displayed on the graveyard on each tombstone with a more detailed individual view. Once the database is ready, we will introduce user accounts with individual dashboards. Everyone should have access, this data is designed to help investors make better decisions.
MH: What sort of things do you think people are going to find the most useful when they’re using your data to assess a coin they’re not sure about?
RK: One major feature is categorization. You will be able to compare similar but already failed projects and spot their fatal flaws and errors, as well as affiliations (like team members, advisors etc). The current landscape doesn’t allow for any of that, plus the sources are sometimes less than trustworthy due to their monetization strategies.
MH: What do you think the imminent regulations are going to do to the altcoin market? If there’s a massacre, are they unfortunate victims or do they get a plot anyway?
RK: We believe any asset that’s not Bitcoin has a good chance of getting on our graveyard eventually, especially all the silly forks and ERC20 tokens. Regulation will always be against decentralization, so it’s a good thing we have new centralized shitcoins like Libra on the way.
MH: What can you reveal about the launch of Shitcoin Graveyard 1.0? The mockups look great!
RK: Thanks! We will start humble and lean with just the two features – articles on our news-asteroid-belt and the graveyard. With our launch being imminent, we are focusing on delivering on the data quality and make sure the satirical content is tolerable.
MH: So, to wrap up, what are the odds of us seeing SCGY on a crypto ticker anytime soon…?
RK: Hahaha, we might release a shitcoin at some point, but currently there are plenty to choose from, so we leave the scamming to the pros. We will make sure that the rekt investors in our community can have fun and find new use cases for the strong shitcoin candidates in their bags.
MH: Thanks Roman. Good luck with the project.
RK: Thank you for taking the time. To the nice people on BitStarz News: always remember to hold your FUD and keep an eye on shitcoingraveyard.com – more announcements are on the way very soon.
Shitcoin Graveyard will be launched in 2019, but you can get a sneak peak of how it will look below. BitStarz News will keep you up to date with the launch plans as the shitcoins and scam projects finally get what they deserve – an undignified burial.